What is a GTC Order?

What is a GTC Order?

A Good-Til-Canceled (GTC) order stays active until it executes or you remove it manually. Unlike day orders that expire at the end of the trading session, GTC instructions keep working in the background, waiting for price to reach your specified level.

Practical Applications

Swing traders often line up buy limit orders well below current price to capture pullbacks to support, while breakout traders queue stop entries above resistance. Because forex trades around the clock, a GTC order lets you participate in moves that occur while you sleep or during low-liquidity sessions you normally avoid.

Managing GTC Orders

• Review regularly: Market structure evolves. Cancel stale orders if the thesis changes or if nearby news could trigger erratic fills.
• Set alerts: Pair your orders with platform notifications so you can monitor executions and adjust stops or targets promptly.
• Mind broker policies: Some brokers auto-expire GTC orders after 30–90 days or over weekends. Check the fine print to avoid surprises.
• Use precise sizing: Plan the stop loss and position size in advance; when your GTC order triggers, you should already know the associated risk.

Advanced Guidance

Build a repeatable, rules‑based process so decisions are consistent across sessions and instruments. Start from context (higher‑timeframe structure, positioning, macro tone), then define precise triggers and invalidation on execution charts. Track spread and depth so your order type matches conditions. Pre‑compute scenarios (breakout, fakeout, mean‑revert) and map actions for each to reduce hesitation.

Execution Framework

• Plan entries at levels with confluence (structure, momentum, time‑of‑day).
• Place stops beyond the logical invalidation, not arbitrary distances.
• Target at least 2–3R; scale out methodically and trail remainder.
• Avoid thin liquidity windows unless the setup explicitly requires it.
• Record slippage and spreads; poor fills can erase edge.

Review Loop

• Journal setups by session and pair to learn where they excel.
• Tag trades by catalyst (news, trend continuation, range breakout).
• Recalculate expectancy monthly; prune underperforming variants.

Risk Controls

Keep daily loss limits, reduce size after consecutive losses, and pause during regime shifts. Survival enables compounding; treat discipline and execution quality as part of your edge.